What is good and bad about Saven? | Page 2 | Saven Financial | Discussion forum

I've given Saven a try and I don't like them, so I'm pulling out and closing my accounts. Here's why:

1. In order to deal with them online you must have a cell phone and download their silly app. Not just a cell phone, but your very own cellphone. Thus my wife and I cannot share one cellphone, we must each have our own unique cellphone or we will not be able to sign into the online app.

2. In order to sign into the app not only must you have a username, they also require you to do a "swipe". They don't define what they mean by a "swipe" and my phone (IPhone 15) has at least 3 different "swipes" that I am aware of. Why do they require this? Why not just have a text message or email confirmation code procedure like everybody else?!

3. I don't like cellphone apps. I much prefer dealing with my financial institution on a PC computer. They do have a online website accessible from a PC, but ONLY IF you ALSO have a cellphone with their app as well. In order to login to their website from a PC you must FIRST go get your cellphone, login to their cellphone app using the "swipe" procedure, then open their website portal on your PC, initiate another login there, and then go back to your cellphone app to do another "swipe" confirming that is what you want to do. Why? Surely this can be made simpler.

4. If you want to transfer a TFSA out of Saven it will cost you $50 for each and every transfer. So, if you have say 3 different TFSA GIC's and you want to transfer them to a different intstitution it will cost you $50 for each transfer. Most other places I deal with it's free.

I have mentioned these issues to Saven customer support agents on numerous times. Deaf ears I'm afraid.

So, I'm gone and I do NOT recommend them.